EIB delivers multi-million shot in the arm for Poland's rail freight
The European Investment Bank (EIB) is lending 200 million Polish złoty (EURO 47 million) to PKP Cargo SA for the upgrading of the rail fleet in Poland. The Bank has now supported rail investments in Poland for 23 years, promoting the improvement of both infrastructure and rolling stock.
PKP Cargo is Poland’s largest railway cargo carrier and second largest in the European Union. A company of the PKP Group in Poland, it is responsible for freight transport. It owns 3,549 locomotives and 50,731 freight wagons.
Thanks to this EIB loan, PKP Cargo will upgrade its fleet by purchasing and modernising locomotives and wagons. The acquisition of new rolling stock is part of the company’s investment programme for the forthcoming three years.
The EIB claims to strongly promote sustainable and environmentally friendly transport solutions. By providing new and modernised rolling stock, the project will increase the quality of freight rail services in Poland.
The new fleet will enable more efficient operation, reduce maintenance costs and lower energy consumption. This should help railways compete with other modes, particularly road, so as to maintain or improve its modal share.
Shifting freight flows from other modes to rail will result in reduced vehicle operation costs and safety and environmental benefits. New vehicles will replace the ageing fleet and modernised diesel locomotives will consume less fuel and oil as well as operating with less noise and vibration.
The Bank’s support provides high financial value added to PKP Cargo by making available long-term funds at favourable rates.